Form 4: Iron Mountain Director Acquires Phantom Stock Through Deferred Compensation Plan

Theodore R. Samuels II, a director at Iron Mountain Incorporated, acquired phantom stock units through the company's Directors Deferred Compensation Plan.

Summary

• Theodore R. Samuels II, a director of Iron Mountain Incorporated, filed a Form 4 on June 3, 2024, reporting a transaction that occurred on May 30, 2024.
• The transaction involved the acquisition of 2,385 phantom stock units related to restricted stock units (RSUs) received on May 30, 2024, which vest on the grant date, through the Iron Mountain Incorporated Directors Deferred Compensation Plan.
• These phantom stock units will be payable in shares of Iron Mountain Incorporated common stock following the director's disability or cessation of service.
• Each phantom share is economically equivalent to one share of common stock.
• Following the reported transaction, Samuels beneficially owns 3,734.657 derivative securities.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally. The use of deferred compensation plans is a common and accepted practice.

Future Outlook

The phantom stock will become payable in shares of Iron Mountain Incorporated common stock following the Reporting Person's disability or cessation of service as a director.

Industry Context

Directors often receive stock-based compensation as part of their overall remuneration, aligning their interests with those of shareholders. Deferred compensation plans are a common way to provide long-term incentives and manage tax liabilities.

Comparison to Industry Standards

• Stock-based compensation for directors is a common practice across publicly traded companies.
• Companies like Equinix and Digital Realty Trust, which are also REITs, often use similar compensation structures for their board members.
• The amount of phantom stock awarded is relatively small, suggesting it's a component of a broader compensation package.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders, employees, customers, suppliers, and creditors.
• It reflects a standard compensation practice for directors, aligning their interests with the long-term performance of the company.

Key Dates